[video] Quick Take: BlackBerry Buyout-Drama Begins

ZT Wealth's Max Wolff weighs in on Fairfax Financial's bid for BlackBerry and reveals why the buyout saga is just beginning.

NEW YORK ( TheStreet) -- On Monday it was announced that Fairfax Financial submitted a letter of intent to take BlackBerry ( BBRY) private at $9 per share. ZTWealth's Chief Economist and Strategist Max Wolff tells TheStreet's Brittany Umar why there's still room for optimism.

At $9 per share, the offer is essentially paying $2 billion above cash levels, Wolff said. Meaning that without including cash, the offer suggests the rest of BlackBerry -- the intellectual property, licensing agreements, brand name and IP -- is only worth a little over $2 billion.

Wolff disagreed with that notion, but admitted that the company has been in a lot of trouble with its products, which was highlighted by the recent $1 billion write-off of inventory.

He added that he expects at least one more bid to come in before the six-week deadline expires on November 4th.

While the market seems to be discounting the company's importance in Canada, there's no doubt the handset issues still exist.

There's a chance that a software company could use BlackBerry's hardware, Wolff said, and that even if the handset devices don't survive, the brand name likely will.

He concluded that while it's been a tough stretch for BlackBerry and its investors, it'll likely improve over both the short- and long-term.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.